Allulose Market to Observe Significant Growth by 2031 Due to Strategic Partnerships and Business Expansion by Market Players, such as Apura Ingredients, Ingredion Incorporated, and Others

Allulose is a type of sugar that bears a close resemblance to fructose. With 90% lesser calories than regular sugar or sucrose, allulose is 70% as sweet as sucrose. Thus, allulose is a virtually calorie-free sweetener. Just like glucose, fructose, and ribose, allulose is a monosaccharide, meaning it has a single sugar molecule.

Forecast Analysis of the Allulose Market

Over the years, especially since the outbreak of the COVID-19 pandemic, there has been a general growth in the awareness among people regarding the importance of maintaining a healthy lifestyle and a healthy dietary routine. This has led people to cut down their sugar intake and instead opt for sugar-free sweeteners. This is expected to boost the growth of allulose market in the 2022-2032 timeframe. Along with this, an increasing incidence of chronic ailments like diabetes, obesity, and heart-related diseases is predicted to boost the market even further. Moreover, investments by food products manufacturing companies, especially the small-sized and medium-sized ones, of this industry is estimated to offer numerous growth opportunities to the market in the analysis timeframe. However, government regulations with respect to storage of food products might create hindrances in the growth of the allulose market.

According to the report published by Research Dive, the global allulose market is expected to gather a revenue of $308,182.9 thousand by 2032 and grow at 11.7% CAGR in the 2022–2032 timeframe. Some prominent market players include Matsutani Chemical Industry Co. Ltd, CJ Cheil Jedang, Tate & Lyle PLC, Bonumose LLC, Ingredion Incorporated, Cargill Inc, Samyang Corporation, Quest Nutrition, Anderson Global Group, Apura Ingredients, and many others.

Allulose Market Trends and Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the allulose market to flourish. For instance:

• In January 2021, Codexis Inc., a leading protein engineering company, announced their partnership with Tate & Lyle, a British food ingredients supplier. Under the terms of the partnership, Codexis will help Tate and Lyle in launching its two new products, viz., Dolcia Prima Allulose and Tasteva M Stevia Sweetener.
   
• In October 2021, Apura Ingredients, a US-based ingredients’ supplier company, announced their partnership with EPC Natural Products Company. This partnership is expected to help both the companies to integrate their operations and increase their footprint in the industry by catering to the demands of a much larger consumer base.
   
• In December 2021, four ingredient companies, viz., Europe-based Cosun Beet Company, US-based Ingredion, Samyang Corporation from South Korea, and Japan-based Matsutani Chemical Company, have announced a new consortium to help bring allulose to the UK and EU markets. The new consortium is called the Allulose Novel Food Consortium (ANFC).

COVID-19 Impact on the Market

The outbreak of the COVID-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. The lockdowns and travel restrictions resulted in the upsetting of almost all supply chains across the world which led to disruptions in production and distribution cycles. However, the allulose market faced a growth in the pandemic years as people started and shifting to white sugar substitutes. This shift was mainly due to the growing awareness regarding the need to boost immunity so as to ward off the possible COVID-19 infection.

Most Profitable Region

The allulose market in the North America region is expected to have the most dominant market share during the forecast period, mainly owing to the huge consumer base of frozen food, especially the US. Besides, the growing prevalence of obesity, increasing working populatio, and rising urbanization in the countries of this region is expected to help the market to grow further in the upcoming years.